New Yorkers are likely to greet this news with considerable
skepticism. Mr. Giuliani is famous for being "very close"
to running for elective offices (like US Senator and Governor of
New York), only to back away at the last moment. His last
campaign, for the 2008 GOP presidential nomination, was a
disaster. He wasted a great deal of money, he had no
strategy, his campaign operation was a mess and he ended up with
exactly one delegate.

It is unlikely that the fund-raisers who made possible the last
campaign will be enthusiastic about raising money for this one,
unless they are convinced that it will professionally managed and
sharply focused. It is also unclear what constituency Mr.
Giuliani imagines might propel his campaign forward.

He is not a favorite of the GOP's social conservative base. He
comes from the GOP's least important region (the Northeast).
So-called establishment Republicans are hardly clamoring for him
to enter the race. Libertarian Republicans seem committed
to Rep. Ron Paul.

That leaves him with a "maverick" candidacy, a positioning now
occupied by former US Ambassador Jon Huntsman. Amb.
Huntsman's political team is vastly more experienced (and
competent) than the crew working for Mr. Giuliani. So it
would appear, at least on paper, that Mr. Giuliani's campaign has
no credible route to the GOP nomination.